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Hyundai Motor heir Euisun Chung takes over from father after 20 years in waiting

SEOUL — Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's push into electric vehicles and flying cars. In the first generational handover at the South Korean automobile giant in 20 years, Chung, 49, said he hoped to lead change at South Korea's second-biggest conglomerate as it battles to stay ahead of the pack in a time of rapid technological innovation in the global auto industry. "Carrying on their bold and innovative legacies, I feel privileged, yet also a sense of great responsibility for opening a new chapter of Hyundai Motor Group," Chung said in his inauguration speech to employees. Chung identified autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM) — industry jargon for flying cars — as his initiatives for the future. Hyundai Motor shares were trading up 0.3% after rising as much as 2.5% after the appointment, while the wider market was down 0.6%. Kia Motors and Hyundai Mobis fell 1.6% and 1.1%, respectively.   Legacies Hyundai Motor Group earlier on Wednesday said Chung had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. Key affiliates of Hyundai Motor Group, including Hyundai Motor, endorsed his inauguration unanimously. The appointment makes Chung the latest third-generation leader to take over one of South Korea's family-led conglomerates, which have been credited with lifting the war-stricken country out of poverty since the 1950s. His father took the wheel of the group in 2000 and transformed the company, once mocked for poor vehicle quality, into the world's No.5 automaker. The 82-year-old has been stepping back from frontline operations in recent years, and gave up his board seat in Hyundai Motor earlier this year. Euisun Chung has played an increasingly visible leadership role since September 2018 when he was promoted to executive vice chairman. Hyundai Motor Group invested $1.6 billion in a self-driving technology joint venture with U.S. Aptiv, forged a partnership with Uber on electric air taxis and invested in ride-hailing firm Grab. In July, Chung set a goal to win more than 10% of the global market for battery EVs by 2025.

John Krafcik stepping down as Hyundai CEO, replaced by VP of sales

Hyundai Motor America has announced that its affable president and CEO, John Krafcik, will be stepping down from his post on January 1, at the completion of his contract. He'll be replaced by the current executive vice president of sales, David Zuchowski.
Krafcik has helmed Hyundai through a product renaissance that's seen the Korean automaker go from budget afterthought to household name in less than a decade, launching stylish new models and expanding into new markets. "On behalf of Hyundai Motor Company, we sincerely thank John for his visionary leadership and relentless pursuit of customer satisfaction, which has driven Hyundai's record growth over the past five years," said Im Tak Uk, the COO and executive vice president of HMA's parent company, Hyundai Motor Company.
"It's been a sincere privilege and honor to lead Hyundai Motor America over the past five years, and I am confident that with Dave's succession, our brand will continue to expand and thrive for years to come," said Krafcik in a Hyundai press release, available below. "We have many of the best and brightest employees in the business coupled with a committed and talented dealer network that will continue to pay dividends."

Hyundai kicks off NFL sponsorship with 'D-Gate'

After a long summer, football season is finally back. Hyundai is ready for the snap as the National Football League's new automotive sponsor, and the company hopes its new ad campaign scores with fans. The company's first NFL spot is titled D-Gate and it's about a group of buddies with a Tucson at an Arizona Cardinals game hoping to get on the Jumbotron. One guy brings something from home that doesn't make his wife too happy, as you'll see in the clip. The 30-second commercial is premiering during the season-opening weekend. The automaker's second ad called Field Goal arrives on Sept. 24 and is about a dad who loves the Houston Texans but has to deal with his napping newborn. Hyundai promises even more football-oriented advertising coming throughout the year. Hyundai has a four-year agreement with the NFL as the league's automotive sponsor, and the deal includes events like the draft and providing vehicles for the Super Bowl. General Motors previously held the rights since 2001 and it reportedly cost the company over $150 million a year. Kickoff Celebration Includes Two All-new Fan-inspired Television Ads FOUNTAIN VALLEY, Calif., Sept. 9, 2015 – Harnessing the passion of NFL fans, Hyundai's first NFL marketing execution launches literally with the very first kick of the regular season. During the season opening celebrations on September 9-10, Hyundai is the presenting sponsor of the 2015 NFL Kickoff activities that include a concert in the San Francisco Bay Area, home of Super Bowl 50. Hyundai is also unveiling two new NFL-themed television ads that highlight what it truly means to be a fan. "Our NFL campaign is all about conveying our love for football and providing opportunities for people to celebrate the game in a meaningful way," said Jacquelyn Kim, director, customer communications and promotions, Hyundai Motor America. "In the new television creative, we want to showcase what passionate fans do #BecauseFootball, and include the role our vehicles can play in that." Hyundai's New NFL Creative Hyundai's all-new Tucson SUV just recently hit dealers, and with its Hands-free Smart Liftgate with additional cargo space, is the perfect vehicle to help fans come game day. Hyundai's "D-Gate" 30-second spot, which will run during the season opener, is a fun take on some passionate Arizona Cardinals fans and their effort to create the ultimate symbol of support for their team.